First Independent Mena Newspaper
The International Monetary Fund (IMF) has reviewed upwards its economic forecasts for Morocco saying the Kingdom’s growth is expected to reach 5.7 % in 2021, which is the best performance in the Middle East & North Africa Region. The IMF new outlook takes into account several factors including the resilience of Moroccan economy and the […]
Morocco’s economy is shaking off Covid-19 impact with a rebound in economic activity that is expected to push growth to 6.2%, Morocco’s central bank said, confirming the positive outlook for the country’s economy drawn by the IMF. The Central bank had previously forecast the economy to grow by 5.8% after it contracted 6.3% last year […]
Credit fundamentals of major Moroccan banks are recovering slowly from the negative impacts generated by the covid-19 pandemic, says Fitch Ratings. The global health crisis caused a 6.3 pc Moroccan GDP contraction in 2020, the worst contraction in 25 years. “The banks’ asset quality and profitability weakened noticeably in 2020. Nonetheless, their credit profiles were […]
As Algeria sinks into an unprecedented economic and social crisis, Algeria’s president indulges himself and his military rulers with his diatribes against Morocco, Israel and France in a warmongering rhetoric that is reflective of a regime in disarray, verging on insanity. Tebboune spoke to local journalists representing two mouthpieces of the regime about everything except […]
The newly appointed head of the government Aziz Akhannouch kicked off his mission by chairing the first ministerial council followed by a presentation of a government program before members of the parliament with strong social and economic commitment. Akhannouch was designated head of the government after his party came first in Sept.8 elections. He built […]
Tunisia’s President Kais Saied Thursday laid into international rating agencies for using “biased criteria” in evaluating the country’s abilities to attract investments. This came during a meeting with the President of financial market council (CMF) Salah Sayel, a day after the country’s central bank (BCT) sounded the alarm over the waning of foreign reserves, the […]
The U.S. Agency for International Development (USAID) has launched a three-year program aimed at recording and sharing hundreds of stories that capture the Kingdom’s rich multicultural history. This $3 million program, called the Religious and Ethnic Minorities Activity (REMA), will involve multiple communities in five cities, namely Fes, Azrou, Marrakech, Essaouira, and Tangier. “Religious tolerance […]
Casablanca Finance City (CFC) has retained its ranking as the first financial center on African continent on Global Financial Centers Index (GFCI). The latest GFCI report, the 30th edition, ranks CFC 53rd globally, 4th in the Middle East region and the first on the African continent. CFC dominates Cape Town (62nd), Johannesburg (64th), Mauritius (73rd) […]
The International Monetary Fund (IMF) has painted a grim picture of the Algerian economy which has been weakened by the macroeconomic imbalances exacerbated by the Covid-19 pandemic and needs urgent structural reforms to maintain stability. “The coronavirus pandemic and concomitant decline in oil production and prices have seriously impacted the economy last year, leading to […]
France’s development agency AFD will pump €100 million into the establishment and management of a wholesale market in Egypt next year. The market will be built in Borg el-Arab; industrial city in the governorate of Alexandria, Arab Finance reports, quoting Minister of Supply Ali Al-Muselhi. A joint Egyptian-French company will be set up to manage […]